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Valuation of inventories

Costing

Product= Fuel. As per AS 9 valuation of material (is based of cost )in any methods we use be it FIFO and WAM . In case of fuel ⛽ the valuation is done based on recent prices so that denotes the product value is according to LIFO. How it will justify the AS 9. Can yu explain sir? Video Details ------------- Cost and Management Accounting Material Cost #34. Other Methods of valuation of issue

Raja Lakshmi

CA Inter

★ 5K+

26-Jan-24 07:55

183

Answers (2)

Costing principles can be different from Accounting principles.

CA Suraj Lakhotia

Admin

26-Jan-24 08:17

Thank you sir.

Thread Starter

Raja Lakshmi

CA Inter

★ 5K+

26-Jan-24 08:55

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